premier real estate nyc

Important Questions to Ask Your Short Sales Specialist

April 11, 2014 by ernest

Important Questions to Ask Your Short Sales Specialist

If you are thinking of trying to rid yourself of the burden of debt through a short sale you should read this article; trying to do it alone is not a good idea. You should reach out to a short sales specialist, like Premier Real Estate NYC, or a professional real estate agent, preferably one that specializes in short sales in New York City. Here are three important questions you should ask to ensure they know what they are doing and are right for you. [Read more...]

How Foreclosures in New York City and Garage Sales go Hand in Hand

April 10, 2014 by ernest

How Foreclosures in New York City and Garage Sales go Hand in Hand

Going through a foreclosure in NYC, or even a short sale places a tremendous amount of financial pressure on homeowners. You may have to find a new home, change your child’s school, place items in storage, or have a longer commute to work.

One way to find a bit of financial relief is holding a garage or foreclosure sale. This is a way to put money in your pockets, especially if you prepare ahead of time. [Read more...]

Filed Under: Foreclosures Nyc Tagged With: foreclosure nyc, Foreclosures NYC, How Foreclosures in New York City, premier real estate nyc, short sale nyc, Short sales NYC

Are There Tax Liabilities With A Short Sale?

April 9, 2014 by ernest

Are There Tax Liabilities With A Short Sale?

A short sale is an agreement between you and your mortgage lender that you are eligible to sell your home for less than you owe, it doesn’t mean you are 100% free from that balance. You could have a tax liability for it. Premier Real Estate NYC is one of the few real estate companies in New York City that helps homeowners understand their rights in a foreclosure.

Prior to the 2007 Mortgage Forgiveness Debt Relief Act and Debt Cancellation, the balance was normally taxed as ordinary income. This seems to have come just in time for the 2008 housing crisis. However, since this act, your debt could be forgiven. Here are the 6 steps to file your debt cancellation during tax time. [Read more...]

Filed Under: Short Sales Nyc Tagged With: Are There Tax Liabilities With A Short Sale?, foreclosure nyc, Foreclosures NYC, premier real estate nyc, short sale nyc, Short sales NYC